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Golden Shield Resources Drills 7 m at 7.50 g/t Au and 15 m at 0.94 g/t Au from Reverse Circulation Drilling at the Marudi North Prospect
VANCOUVER, BC, Oct. 19, 2023 /CNW/ - Golden Shield Resources Inc. (CSE: GSRI) (OTCQB: GSRFF) (FRA: 4LE0) (the "Company" or "Golden Shield") is delighted to anno
About this update from Golden Shield Resources Inc.
[{"type":"text","content":" VANCOUVER, BC, Oct. 19, 2023 /CNW/ - Golden Shield Resources Inc. (CSE: GSRI) (OTCQB: GSRFF) (FRA: 4LE0) (the \"Company\" or \"Golden Shield\") is delighted to announce initial results from the ongoing reverse circulation (\"RC\") drill campaign at the Company's flagship Marudi Mountain gold project located in southwestern Guyana (the \"Marudi Mountain Property\"). Assays from the first 39 drillholes are reported herein. The Company is pleased to also provide an update on the next stages of the RC drill program. Leo Hathaway, Executive Chairman of Golden Shield, commented, \"The RC drill rig has enabled the Company to map fresh rock geology that exists under saprolite \"cover\". This allows the Company to iteratively de-risk exploration targets before advancing to diamond drilling. The presence of high-grade gold in an unrecognized zone of the Marudi North prospect is an exciting step towards unlocking exploration potential on the Marudi Mountain Property.\" Highlights: 39 RC drillholes (1939 m total) have been completed at the Marudi North Prospect Select drill highlights include: MN-23-RC005: 14 m at 1.0 g/t Au from 5 m, incl. 11 m at 1.27 g/t Au MN-23-RC008: 7 m at 7.50 g/t Au from 3 m, incl. 4 m at 13.06 g/t Au MN-23-RC009: 4 m at 1.78 g/t Au from 13 m MN-23-RC010: 5 m at 1.86 g/t Au from 5 m, incl. 1 m at 7.40 g/t Au Further assays for Marudi North are currently pending. The RC rig is currently drilling at the IP-6 prospect where 12 drillholes (779 m) have been drilled to date with additional drill holes set to be completed. Pancake Creek will be drilled using the RC rig following the completion of the IP-6 Grid. RC Program Overview The goal of the RC drill campaign at the Marudi Mountain Property is to acquire an understanding of the shallow subsurface geology beneath the saprolite cover. Specifically, the Company seeks to explore the Marudi Mountain Property for the favourable gold-bearing, Ferruginous Quartzite (\"FQ\"), lithology that is the primary host of mineralization across the property. Drill depths currently vary between 22-79 m, with holes having an average depth of 52.5 m. The RC drill campaign is designed to have 140 drillholes completed across three prospects: Marudi North (completed), IP-6 (current), and Pancake Creek. With 51 holes of the planned 140 drillholes now drilled, Golden Shield has completed appr...